A warning about Alt-Coins

[sirbellos]

its complicated to invest in alt-coins.....its already a lot of work because there is a lot of things to read about....predictions, tecnical information, etc.

I tend to agree

[CryptoCluster]

Price of Bitcoin is backed up by growing economy, and it potential to change the financial world. Price of alts is backed up by some speculators that want to buy them in hope of making profit, by selling alts to other speculators. No real economy behind them.

Most alts are similar to fiat in these case. Their value is backed up ONLY by faith.

[junglist.massive]

well I disagree
we need some alternative currencies but it have to works on foreign system than Bitcoin

[Tsunamirain]

Feather coin has a great community, I don't want to say to much
Other than I am buying as many as I can get... Winning..

[mairusu]

i've bought a few while they are low hope they do the same thing as ltc

[Tsunamirain]

i've bought a few while they are low hope they do the same thing as ltc

they will be by next year this time 5$ each. That is my prediction.
Stop by feathercoin.com. They have a lot of giveaways.

[reneedr]

Hey everyone. I have a bit of an issue going on here. I just started mining AmericaCoins or wth they are called at the Americancoin mining pool a little over 24 hours ago. I have yet to see one block paid out to me. At first I thought the confirmations where just really slow, but now I know that we are confirming blocks that I should be getting paid shares from and I'm not getting anything. Still showing everything as pending, not verified. Anyone else having this problem with Americancoin mining pool or other Americancoin pools?

If they are ripping me off I will just join a different pool.

Auto payout is broken.

Manual pay out works.

[operaficionado]

When I say that devcoin is different, it is because it has a much greater potential to building an real community around DevToMe and Devcoin, a community that cares about the future of devcoin. This is due to the fact that Devtome takes care of its "developers" (e.g. writers, programmers, administrators) by "donating" to them (paying them) in devcoin. This idea is contagious, as we have all witnessed. If the people working for devtome care about making their work valuable and keeping it relevant, they are going to promote the shit out of devcoins and try and raise the price so they can sell their earnings for more.

People are saying there aren't that many writers right now, but they have doubled in the past month, and last month doubled from the month before. Look at the "Devtome Earnings" from each of these. Look at the number of writers and number of shares:

https://github.com/Unthinkingbit/charity/blob/master/account_24.csv
https://github.com/Unthinkingbit/charity/blob/master/account_23.csv
https://github.com/Unthinkingbit/charity/blob/master/account_22.csv

Devcoin is blowing up. It sucks because we aren't getting as much as we could out of a share, but in a way it can be seen as a good thing. Devcoin has more promoters now. People are never as interested in a coin if they do not hold it in their wallet, once they have a bunch, it's in their interest to talk about it a ton and try and get people interested in buying them.

So, the drawing factors of devcoin are as follows:

-Empowers creative people to take part in crypto currency
-Extremely cheap transaction costs. If you want to send a bitcoin and make sure the person you are sending to receives it within the next 6 blocks, it costs .0005BTC. If you want to send devcoin on the same pretenses, it costs 1DVC. The difference is monumental (especially if you have a high volume of transactions per day/week/month)
-Devcoin is merge-mined with Bitcoin. This means that as long as there is someone mining bitcoin, there will be someone mining devcoin. Therefore, devcoin will never die as long as bitcoin is up and running.
-Devcoin is one of the oldest alternate currencies, and is highly trusted as a secure currency.
-Regulations are being discussed, soon there are going to be rules to keep people from fucking over all the other developers of devtome, and people are going to be earning a fair amount of devcoins per share. This should come soon, and make devcoin more difficult to acquire (because you'll actually have to work to earn it), organically bringing the price upwards.

Once more people learn about devcoin and its value in the crypto market, there's no way it can't go upwards; even though it is designed to be 1/1000th of other alternate currencies, we're nowhere near that amount. Those who acquire devcoin now will have a pretty impressive ROI.

[sidhujag]

When I say that devcoin is different, it is because it has a much greater potential to building an real community around DevToMe and Devcoin, a community that cares about the future of devcoin. This is due to the fact that Devtome takes care of its "developers" (e.g. writers, programmers, administrators) by "donating" to them (paying them) in devcoin. This idea is contagious, as we have all witnessed. If the people working for devtome care about making their work valuable and keeping it relevant, they are going to promote the shit out of devcoins and try and raise the price so they can sell their earnings for more.

People are saying there aren't that many writers right now, but they have doubled in the past month, and last month doubled from the month before. Look at the "Devtome Earnings" from each of these. Look at the number of writers and number of shares:

https://github.com/Unthinkingbit/charity/blob/master/account_24.csv
https://github.com/Unthinkingbit/charity/blob/master/account_23.csv
https://github.com/Unthinkingbit/charity/blob/master/account_22.csv

Devcoin is blowing up. It sucks because we aren't getting as much as we could out of a share, but in a way it can be seen as a good thing. Devcoin has more promoters now. People are never as interested in a coin if they do not hold it in their wallet, once they have a bunch, it's in their interest to talk about it a ton and try and get people interested in buying them.

So, the drawing factors of devcoin are as follows:

-Empowers creative people to take part in crypto currency
-Extremely cheap transaction costs. If you want to send a bitcoin and make sure the person you are sending to receives it within the next 6 blocks, it costs .0005BTC. If you want to send devcoin on the same pretenses, it costs 1DVC. The difference is monumental (especially if you have a high volume of transactions per day/week/month)
-Devcoin is merge-mined with Bitcoin. This means that as long as there is someone mining bitcoin, there will be someone mining devcoin. Therefore, devcoin will never die as long as bitcoin is up and running.
-Devcoin is one of the oldest alternate currencies, and is highly trusted as a secure currency.
-Regulations are being discussed, soon there are going to be rules to keep people from fucking over all the other developers of devtome, and people are going to be earning a fair amount of devcoins per share. This should come soon, and make devcoin more difficult to acquire (because you'll actually have to work to earn it), organically bringing the price upwards.

Once more people learn about devcoin and its value in the crypto market, there's no way it can't go upwards; even though it is designed to be 1/1000th of other alternate currencies, we're nowhere near that amount. Those who acquire devcoin now will have a pretty impressive ROI.

Add that to the fact that the replacement for USD will be a crypto with a controlled supply and not a hard cap or limit. DVC falls into the controlled supply unlimited cap category. This would avoid a lopsidedly deflationary economy. See https://bitcointalk.org/index.php?topic=236684.0; for my thread on this.

[Jord kim]

Is ltc worth going into right now?

[sacramento]

Ltc should be back up to 4 by Sept.

I'd take it as a joke. No one knows.

[atariguy]

Is ltc worth going into right now?

It seems to be the only one that's consistently worth your time if you don't want to do BTC.

[Veldt Gold]

There is not really a point to the alt-coins that are out there. Do any of the provide a better standard? If so the people will switch but all I can see as of now are variations of bitcoin.

[LongWait4BFL]

I actually think that many Alt coins are here to stay. LTC is mined a lot, and they say that even Mtgox might start accepting it.
With ASIC being released a lot of GPU miner will move to Alt coin mining as long as it remains profitable.

[fuzz]

There is no point to any of the alt-coins because they provide no value other than a means to make the owners of the exchanges rich and/or a means for late-comers to be able to get some bitcoins in a faster and easier fashion.

Unless an alt-coin is accepted for goods and services it has no value and cannot have value.

[highstr8]

there are certainly some terrible scam coins out there, but i think the big picture for alt-coins is to find a coin that fixes problems with BTC or LTC.  In my opinion the coins that have real potential are the ones that fix the speed problem, digitalcoin and stablecoin may be the best bet for making secure fast transactions. 

[Bogdan]

There is no point to any of the alt-coins because they provide no value other than a means to make the owners of the exchanges rich and/or a means for late-comers to be able to get some bitcoins in a faster and easier fashion.

Unless an alt-coin is accepted for goods and services it has no value and cannot have value.

Exactly and right now bitcoin is only just on the verge of becoming commonly accepted, it still has a long way to go. But these random other coins don't.

[collagen188538]

I think there are way too many alt coins, and with more on the horizon, we are left with an alt coin over saturation.

This is bleeding the worth out of every single coin. Should there be group decided mandate to limit the amount of alt coins in circulation?

[EttaEOgle]

I think there are way too many alt coins, and with more on the horizon, we are left with an alt coin over saturation.

This is bleeding the worth out of every single coin. Should there be group decided mandate to limit the amount of alt coins in circulation?

How could anyone possibly regulate what is being created/used? A group dedicated to such a thing would only make things worse. Bias would be a huge problem, it would only cause uproar.

[operaficionado]

There is no point to any of the alt-coins because they provide no value other than a means to make the owners of the exchanges rich and/or a means for late-comers to be able to get some bitcoins in a faster and easier fashion.

Unless an alt-coin is accepted for goods and services it has no value and cannot have value.

Time will tell whether other alt-currencies are valued or not. Right now, you can buy online hosting services using many alt-currencies through www.Litehosting.org. More online merchants are starting to realize that if people are willing to pay you for one of these alt-currencies, it's MONEY! :-P